Colorado has negotiated its escape from the Big 12 and will join Utah as the new members of the Pac-12 in 2011.
Here are some details.
From the Boulder Daily Camera:
Perhaps the biggest surprise in the compromise was the final cost. CU will forfeit only $6.863 million in conference distributions it would have received from the Big 12, but the Pac-10 has agreed to front CU the same amount so that there is no shortfall in the athletic department budget.
Why did Nebraska have to pay more to leave the Big 12?
Nebraska announced Tuesday that its move to the Big Ten will cost $9.25 million. The difference in cost between the two schools is based on Nebraska's average earnings being higher than Colorado's throughout the time in the Big 12 and the fact that CU gave two years notice of its intention to leave, while Nebraska gave only one.
Another take from the paper includes this tidbit.
No doubt, it will take the Buffs a few years to make up the exit fee. Colorado won`t start receiving a full share of Pac-12 revenue until 2012, when new television contracts kick in, but will have a loan from its new conference on future revenues to cover up any shortfalls in the interim.
The Denver Post added this detail on how Colorado will repay the Pac-10.
Pac-10 commissioner Larry Scott confirmed in a phone interview that the conference will float Colorado the $6.863 million loan, which will be paid back with future earnings from the Pac-12's upcoming TV negotiations and the school's expected future ticket revenue and booster donations.
Bohn said since Colorado announced it would join the Pac-10, Buff Club donations from the state of California have gone up almost 400 percent.
It seems that all parties are happy with the endgame. Now the remaining issues ahead are all about a 12-team conference in 2011: 1. Revenue sharing; 2. Divisions; 3. A conference title game.
And those issues will be hashed out among Pac-10 officials and the conference presidents on Oct. 21 in San Francisco.